PRESS RELEASE Second Quarter 2011 Results
Against all odds – Growth at all levels 2Q11 By the Numbers:
Revenue: RM 1.08 Billion (up 15% y-o-y)
Profit before Tax: RM145.0 Million (up 0.6% y-oy)
Cash Balance: RM 1.9 Billion
Malaysian Operations:
o
Revenue / ASK : 16.71 sen (up 6% y-o-y)
o
Ancillary Income per pax: RM 50 (up 15% y-o-y)
Thailand Operations: o
Passengers : 1.6 Million (up 30% y-o-y)
o
Ancillary Income per pax: THB 405 (up 30% y-o-y)
Indonesia Operations: o
Passengers : 1.3 Million (up 33% y-o-y)
o
Ancillary Income per pax: IDR 139,680 (up 10% y-o-y)
Net Gearing Ratio: 1.48 (reduce from 2.27 y-o-y)
Amount due from Thailand fully paid off
LOW COST TERMINAL SEPANG, 23 August, 2011 – AirAsia Berhad (“AirAsia” or “the Company”) posted commendable second quarter numbers in its results announced today. Despite a stormy environment of volatile fuel prices, rising costs and global economic uncertainty, the Group achieved an increase in revenue (up by a substantial 15% y-o-y), higher passenger loads (up 4 ppt y-o-y), Profit before Tax of RM 145 million (up 0.6% y-o-y) and rising revenues from ancillary income. “The second quarter is traditionally one of our weaker quarters. But despite the challenging environment in the industry, the team has come through again. Costs have gone up, but much less than among others in the industry. We’ve grown revenues, our cash balance is a healthy RM 1.9 billion, and our gearing level has been reduced to 1.48 times as compared to 2.27 times a year ago. We’re well on track in terms of achieving our goals for the year, building on our already strong foundation to enhance growth in the coming months and years. Also great progress has been made in monetizing our ancillary investment like CAE and Expedia which will allow myself and the management to focus more on the operations,” said Group CEO Tan Sri Dr Tony Fernandes. Fernandes emphasised again that the Company’s “load active, yield passive” strategy is paying rich dividends, with lower average fares attracting higher numbers of passengers who, in turn, contribute to a higher take-up rate of ancillary services such as such as baggage supersize, picka-seat, cargo and courier, inflight merchandise and meals and others. “We’ve always maintained that instead of raising fares for higher yields – running the risk of dampening air travel – we’d rather keep fares at reasonable levels so as to attract higher passenger loads and boost revenue through ancillary services,” he said.
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